Intellinetics (OTCMKTS:INLX) Lowered to “Hold” Rating by Zacks Research

Intellinetics (OTCMKTS:INLX) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Intellinetics Trading Up 1.2%

Shares of OTCMKTS INLX traded up $0.11 during midday trading on Thursday, reaching $9.08. The stock had a trading volume of 326 shares, compared to its average volume of 5,304. The company’s 50 day moving average price is $10.93 and its 200 day moving average price is $11.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.91. Intellinetics has a twelve month low of $8.74 and a twelve month high of $16.50. The firm has a market cap of $40.67 million, a price-to-earnings ratio of 60.54 and a beta of 0.18.

Insider Buying and Selling at Intellinetics

In other news, major shareholder Robert Taglich sold 35,732 shares of the business’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $11.00, for a total value of $393,052.00. Following the transaction, the insider directly owned 458,642 shares of the company’s stock, valued at $5,045,062. The trade was a 7.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.59% of the company’s stock.

About Intellinetics

Intellinetics, Inc designs, develops, tests, markets, and licenses document services and software solutions in the United States. The company operates in two segments, Document Management and Document Conversion. Its software platform allows its customers to capture and manage documents across operations, such as scanned hard-copy documents and digital documents, including Microsoft Office 365, digital images, audio, videos, and emails.